Business
DTI releases livelihood fund for Boracay MSMEs
August 28, 2018, 1:34 pm
MANILA -- The Small Business (SB) Corp., the financing arm of the Department of Trade and Industry (DTI), has released some PHP210,000 worth of loans to micro entrepreneurs on Boracay Island as of August 24. The loans granted to small-scale businesses were under the Pondo sa Pagbabago at… Read More
Dominguez says hefty investments fueling PH's rapid growth
August 28, 2018, 1:33 pm
MANILA -- Finance Secretary Carlos Dominguez III said in a statement on Tuesday that the Philippines continues to be among the best performing economies in Asia, on the strength of higher foreign direct investment (FDI) inflows and rising capital formation. Dominguez said a significant increase in… Read More
Pump prices up again Tuesday
August 27, 2018, 6:48 pm
MANILA -- Filipino motorists will have to dig a little deeper into their pockets as local oil companies announce another hike in pump prices effective Tuesday. In separate announcements, spokesmen for the oil firms said the upward price adjustment will take effect at 6 a.m. on August 28. According… Read More
DOF submits remaining tax reform packages to Congress
August 27, 2018, 6:27 pm
MANILA -- The Department of Finance (DOF) has made good on its commitment to submit to the Congress the remaining packages of the Duterte administration’s comprehensive tax reform program (CTRP), whose overriding goal is to make Philippine taxation fully transparent, more efficient and a lot… Read More
DICT to seek UNDP aid to rollout free Wi-Fi nationwide
August 27, 2018, 5:03 pm
MANILA -- The Department of Information and Communications Technology (DICT) will seek the assistance of the United Nations Development Program (UNDP) to deliver free Internet service throughout the country through its free Wi-Fi program. This developed as the DICT stressed that government should… Read More
Peso ends week sideways, local stocks down on trade jitters
August 24, 2018, 7:04 pm
MANILA -- Investors wait-and-see stance while awaiting Federal Reserve Chairman Jerome Powell's speech at the annual Jackson Hole symposium, resulted in the sideways close of the Philippine peso Friday but the main equities gauge fell on trade concerns. The local unit ended the week at 53.465 from… Read More
PH exports to recover in 2nd semester: Philexport
August 24, 2018, 6:34 pm
MANILA -- Projections on the country's exports revenues remain bright as robust demand is expected in the second half of 2018, according to the Philippine Exporters Confederation, Inc. (Philexport), the umbrella organization of local exporters. In a statement Friday, Philexport President Sergio… Read More
Union Bank eyes LTNCD issuance to fund expansion
August 24, 2018, 6:07 pm
MANILA -- An official of Aboitiz-led Union Bank of the Philippines (Union Bank) announced that an issuance of Long Term Negotiable Certificate of Deposits (LTNCD) is in the offing as the bank seeks to increase capital to support its expansion. Union Bank President and CEO Edwin Bautista said they… Read More
DTI to ask EU to calendar continuation of free trade talks
August 24, 2018, 6:04 pm
MANILA -- The Philippine government is set to formally ask the European Union (EU) to schedule the third round of negotiations for the Philippine-EU Free Trade Agreement (FTA), the country’s top trade official revealed. Trade Secretary Ramon Lopez told the Philippine News Agency (PNA) that his… Read More
PH, China to speed up implementation of infra projects
August 24, 2018, 6:00 pm
BEIJING -- Manila and Beijing have affirmed their commitment to speed up the preparation and processes needed to ensure the timely implementation of the Duterte administration’s flagship infrastructure projects with financial support from China, the Department of Finance (DOF) announced in a… Read More
Union Bank targets 14 fully digital branches by yearend
August 24, 2018, 2:54 pm
MANILA -- Union Bank targets to have 14 fully digital bank branches nationwide by end-2018 and around 30-40 branches by end-2019, after its initial foray into this new concept gained recognition as "Best in Asia Pacific" within a year of its launch in September 2017. Its first fully digital… Read More
DICT eyes awarding unused frequencies of PLDT, Globe to 3rd telco
August 23, 2018, 8:43 pm
MANILA -- The Department of Information and Communications Technology (DICT) is eyeing to award the unused frequencies of telco giants PLDT, Inc. and Globe Telecom to the next major player in the industry. This, as the DICT conducts its review on the frequencies that were awarded to the dominant… Read More
Bidding for 3rd telco may be held in October: DICT
August 23, 2018, 8:00 pm
MANILA -- The Department of Information and Communications Technology (DICT) may conduct the bidding for the new major player in the telco industry as early as October this year. This as the department is committed to comply with its target to select the third telco player by yearend. DICT Acting… Read More
DTI to revive garment, textile industries
August 23, 2018, 7:58 pm
MANILA -- The Department of Trade and Industry (DTI) is looking at ways to revive the local garment and textile industries, in hopes of generating more employment and to realize the administration's inclusive growth agenda. On the sidelines of the first Philippine Garment, Leather Goods… Read More
Lopez warns profiteering meat retailers face closure
August 23, 2018, 6:30 pm
MANILA -- Trade Secretary Ramon Lopez has warned profiteering wet market vendors to bring down retail prices of meat and poultry products as farmgate prices have already gone down, or face consequences ranging from getting a Notice of Violation (NOV) to having their stores closed. Lopez told… Read More
PSEi rises anew, Peso sideways on Fed rate hike hints
August 23, 2018, 6:27 pm
MANILA -- The Philippine Stock Exchange index (PSEi) rose for the second day in a row Thursday while the Peso managed to keep its footing amid the US dollar’s strength. The PSEi gained 2.25 percent, or 171.77 points, to 7,804.03 points, which a trader pointed to foreign buying after the slide of… Read More
Net inflow in 'hot money' posted as of August 10
August 23, 2018, 5:29 pm
MANILA -- The inflow of foreign portfolio investments, also called "hot money" because they can come in and out of an economy, remain in positive territory as of the second week of August 2018. Data released by the Bangko Sentral ng Pilipinas (BSP) Thursday showed that as of the week ending August… Read More
BSP asks firms to submit 2019 foreign borrowings plan
August 23, 2018, 5:02 pm
MANILA -- The Bangko Sentral ng Pilipinas (BSP) has given both publicly and privately-owned Philippine companies until September 30, 2018 to submit their foreign borrowings plans for 2019. In an advisory published in a major daily, the central bank said the reminder is in line with its… Read More
Gov’t seizes P8.8-B fake goods in first semester
August 23, 2018, 5:00 pm
MANILA -- The National Committee on Intellectual Property Rights (NCIPR) has confiscated some PHP8.8-billion worth of pirated and counterfeit goods from January to June 2018. The Intellectual Property Office of the Philippines (IPOPHL), which is the vice chair of NCIPR, reported Thursday that the… Read More
Strong economy not incentives attracted investors: Dominguez
August 23, 2018, 3:06 pm
MANILA -- The remarkable increase in foreign direct investments (FDIs) entering the country in the last 17 months best illustrates that investors are now flocking to the Philippines because of its exciting growth prospects, rather than the fiscal incentives it continues to offer to businesses,… Read More
